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I am not sure exactly what the overstay fees are right now, and really it changes depending on who you are dealing with at Immigration.

But yea, I did the math some years ago and saw that it was much cheaper for me to stay and pay the fine, then to go out every 90 days.

The first time I paid the fine was for 3 years overstay, and it cost me about 21,000Lps. So yea, that 7500L per year looks about right.

But that was before COVID...

The usual term granted to a Foreigner visiting Honduras is 90 days, which may be extended for 30 more days (once) by requesting the extension at a Migration Office and paying US$20.00.
After the 90 or 120 days are expired, the Fine for overstaying in Honduras may go from 1/2 a Minimum Wage Salary and up to 3 Minimum Wage Salaries.
It would all depend on the reasons that may be used as an excuse by the Foreigner and the consideration that the Migration Officer may have.

No one knows what the minimum wage salary is without more research... Please use numbers.

You may see to verify the Minimum Wage for 2020.
The fine for overstaying your Visa as a Tourist may be from Lps.3,381.50 to Lps.20,288.10; the exchange rate to the Currency that the Visitor uses is also subjected to change overtime.

You say "to Lps. 20,288" like that's a maximum amount.

Is this correct??

Side note--- Thank you for providing this year's minimum wage sheet. I see compensation amounts have increase significantly since the last time I saw them.

Are the fines per day, months or up to a Year????

I believe it is based on months. 

The lawyer, Jorge, would be the best one to answer this question.

I read somewhere that Hondura will grant residency if you have live in the country X number of years, if so what documents do you need to apply

so this is something that both my wife and I just experienced here. we are both Canadians and have been here in Honduras since June 2017, having to leave after every 90 days most of the time it was because the government never gave us extensions. Also since 2019, we have been trying to get a visa (permiso de permanencia). I'm not gonna mention all the details but basically, now the government has said that if we leave the country we would need to start the process all over again bringing new legal documents from Canada and other countries if required. we have been here in the country continuously since December 2019 and have been working with getting either 30 or 60-day extensions once the immigration office opened.

so anyone who is here in Honduras knows that banks and certain government offices will only allow you to enter on the allocated day of your ID/Passport. hence this time while trying to get our extension for 60 days I could not go to the bank to pay the renewal fee until 2 days after the expire of the stay even though the process started 7 days before the expiration of the stay and the tgr receipt form was made 2 days prior to the expiration. because of this 2 day delay on paying because the bank would not allow me to pay beforehand both my wife and I had to pay almost 5000L each so roughly 200 USD each for a 2-day delay in the payment submission.

I hope this is helpful. the lesson that my wife and I learned is now while getting our extensions instead of starting the process 7 days earlier maybe start it 15-10 days earlier. we will have to continue doing this until the immigration part of the government starts working normally and goes back to working on our permiso de permanencia/ visa.

There is a way online to pay for extensions without having to go to the bank.

I am also Canadian and have lived here for 17 years. Why on earth didn't you just get your residency at the beginning? It makes like so much easier. It just takes 60 to 90 days with the right lawyer. All application documents are time sensitive so yes, you would have to start from '0' again if it has been some time. Then you can come and go when you want, you can stay forever and there are other benefits. And where do you live? We haven't been restricted by numbers now for months.